CV Holdings, Inc. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2016
May 01, 2017 at 08:23 pm EDT
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CV Holdings, Inc. reported audited consolidated earnings results for the year ended December 31, 2016. For the year, total revenue was $3,187,679 against $4,613,730 a year ago. Net loss from operations was $2,125,925 against $886,034 a year ago. Loss before benefit for income taxes was $5,196,933 against $2,650,127 a year ago. Net loss attributable to the company was $5,103,555 against $2,123,270 a year ago. Net cash used in operating activities was $2,497,074 against $855,600 a year ago. Purchase and capitalization of real estate assets was $200,187 against $786,713 a year ago.
CV Holdings, Inc. is a holding company for several finance-related businesses. The Company, through its subsidiaries, holds various types of investment assets, including loans receivable, finance leases and commercial Collateralized Debt Obligations (CDO) interests. The Company owns and operates a commercial real estate lending business through CV Capital Funding, LLC (CVCF); small ticket finance and leasing business through Centra Funding, LLC (Centra); a venture equipment finance and leasing business through VenSource Management, LLC (VenSource); and a residential nonperforming loan (NPL) servicer and asset manager through LongVue Mortgage Capital, Inc. (LongVue). The various operating businesses are owned by the Companyâs taxable real estate investment trust (REIT) subsidiary, RFC TRS, Inc. (TRS), while the portfolio investments are held through other subsidiaries outside TRS. The Companyâs primary businesses include CVCF, Centra and VenSource.
CV HOLDINGS, INC. 
